Allow butter and eggs to stand at room temperature for 30 minutes. Preheat oven to 350F. Grease and lightly flour twelve 4-inch individual fluted tube pans or one 10-inch fluted tube pan; set aside.

In a medium bowl, stir together the 2-1/4 cups flour, the baking powder, and nutmeg; set aside. In a small bowl, toss together candied fruits and peels, raisins, pecans, and the 2 tablespoons flour; set aside.

In a large bowl, beat butter with an electric mixer on medium to high speed for 30 seconds. Gradually add sugar, beating until light and fluffy. Add eggs, one at a time, beating for 1 minute after each addition.

Alternately add flour mixture and eggnog to butter mixture, beating on low speed just until combined after each addition. (Do not over beat.) Stir in 1/4 cup of the rum or orange juice mixture. Fold in fruit mixture. Pour batter into prepared pans.

Bake until a long wooden toothpick inserted near center(s) comes out clean. Allow about 30 minutes for the 4-inch pans or 55 to 60 minutes for the 10-inch pan. Cool in pan(s) on wire rack(s) for 15 minutes. Remove from pan(s); cool on wire rack(s).

Using a toothpick, poke holes all over each cake. Soak double-thick square(s) of 100 percent-cotton cheesecloth in the remaining rum or orange juice mixture, using 1 cup total of the mixture for 4-inch cakes or 1/2 cup of the mixture for the 10-inch cake. Chill remaining rum or juice mixture. Wrap cakes in moistened cheesecloth. Place in resealable plastic bag(s).

Store in the refrigerator for up to 2 days to mellow flavors, drizzling with 1/4 cup of the rum or the juice mixture after the first day.

To serve, remove cheesecloth and drizzle cake(s) with Eggnog Glaze; let dry. If desired, garnish with fresh fruit. Makes 24 to 30 servings.

To Bake Ahead: Prepare cake(s) as directed, except do not drizzle with rum or juice mixture or drizzle with Eggnog Glaze. Place in freezer bag(s); seal. Freeze for up to 3 months. Thaw in the refrigerator. To serve, drizzle with 1/4 cup rum or orange juice, then with Eggnog Glaze; let dry. If desired garnish with fresh fruit.

Eggnog Glaze: In a small bowl, stir together 1 cup powdered sugar, 1 tablespoon dairy eggnog, 1 tablespoon light-colored corn syrup, and 1/2 teaspoon light rum or 1/4 teaspoon rum extract. Stir in enough additional eggnog, 1 teaspoon at a time, to make a glaze of drizzling consistency.